European Commission recommends Council of EU approve 4.2-bln euro payment to Kiev from Ukraine Facility

BRUSSELS. July 17 (Interfax) - The European Commission (EC) said on Wednesday it gave a positive assessment of Kiev's compliance with the conditions for the first regular payment of around 4.2 billion euros from the EU's Ukraine Facility.

"Ukraine is taking forward key reforms for its recovery and to advance on its EU path. This paved the way for the commission's green light of an additional payment of close to 4.2 billion euros to Ukraine, and I trust the Council [of the EU] will now quickly agree. The EU will continue to support Ukraine for as long as it takes," EC President Ursula von der Leyen said.

The European Commission said in a statement that after the Council of the EU adopts the relevant resolution, the total EU funding allocated to Ukraine since the launch of the Ukraine Facility in March this year will reach 12 billion euros.

At the same time, Brussels said that regular quarterly payments under the Ukraine Facility "are conditional on Ukraine meeting pre-agreed requirements." According to the EC, this first regular payment from the facility follows previous interim and preliminary funding and indicates the rapid implementation of the Ukraine Plan.

"Following the assessment of the payment request submitted by Ukraine on July 9, 2024, the commission has concluded that Ukraine has satisfactorily fulfilled the nine reform indicators linked to the first regular payment in support of the Ukraine Plan, Ukraine's reform and investment strategy for the next four years," the EC said in a statement.

The document said that the reforms cover public financial management, state-owned enterprises, business environment, energy and demining.

Kiev will receive up to 50 billion euros in grants and loans for the period of 2024-2027 under the Ukraine Facility.

On February 28, the Council of the EU adopted a package of legislation for the review of the EU's long-term budget for 2021-2027, including the provisions for establishing a 50-billion-euro Ukraine Facility (17 billion euros in grants and 33 billion euros in loans).